Money in Iran
Written by Sady Qavipisheh
Here are the most frequently asked questions about money in Iran.
1. What is the official currency of Iran?
The rial (ISO 4217 code IRR) is the currency of Iran. Although the "toman" is no longer an official unit of Iranian currency, Iranians commonly express amounts of money and prices of goods in "tomans." For this purpose, one "toman" equals 10 rials. Despite this usage, amounts of money and prices of goods are virtually always written in rials. For example, the sign next to a loaf of bread in a store would state the price in rials, e.g., "200 Rials," even though the clerk, if asked, would say that the bread costs "20 tomans." There are both coins and notes in use here in Iran; the biggest existing coin is 5000 Rials and the smallest is 250 Rials, and in notes the biggest is 100,000 IRR and the smallest is 1000 IRR. There is also a 500,000 IRR travel check in use that functions very much like the biggest note in use.
2. What are the popular international currencies in Iran?
While almost all currencies around the world are known and accepted by exchange shops and offices, the American Dollar, Euro, and the British Pound are the top international currencies widely used and accepted by Iranian people.
3. Is it possible to use credit cards while in Iran?
The global banking system here is the subject to international embargoes at the moment; and that’s why you are required to make your tour payment in cash on arrival, and also you are highly recommended to take enough cash on you for the daily expenses and small shopping because you are not able to withdraw money from your bank accounts in Iran. Also it doesn’t mean you cannot use your credit cards in any way.
4. Where to exchange money in Iran?
Exchange offices are in almost all major cities' shopping areas in Iran. American Dollars, British Pounds, Euros, and almost all currencies can be exchanged easily. It also is possible to exchange money already at the airport.
5. Is it possible to use ATMs while in Iran?
ATMs exist in most cities, and there are point-of-sale devices in many larger stores, but only local bank cards are accepted.
6. Which currency to use for shopping in Iran?
Use Iranian Rial for daily shopping. Goods such as bottled water, cookies, snacks, and daily refreshments are sold in Rials. For shopping souvenirs and handicrafts Iranian Rial and other well-known currencies like U.S Dollar and Euro can be used.